Michael Krasman, CEO and Co-Founder of UrbanBound, recently shared his journey as a serial entrepreneur as well as his off-the-cuff advice for aspiring entrepreneurs on the Fireside Chicago podcast. We summarized his top 9 tips for aspiring entrepreneurs below.
Tough times are inevitable. Expect to fall, pick yourself up, and dust yourself off along the way. Keep learning and trying things. The longer you stay in the game, the more likely opportunities will present themselves to you.
Michael considers his business partnerships critical to his success, both strategically and in terms of managing the emotional rollercoaster of entrepreneurship. It’s key to have someone to bounce ideas off of and keep each other motivated.
One reason Michael and Jeff work so well together is their complementary skill sets. Michael, the former investment banker, focuses on the product and financial aspects of each business, while Jeff—a sales and marketing master—handles customer and business development.
Every entrepreneur needs to know—and be able to articulate—his or her core values, and seek others who share similar philosophies. This will ensure you’re on the same page as your partners and also result in more successful hires.